09 dec: Lovforslag hæmmer ældre
09 dec: Betydelige økonomiske udfordringer
09-12-2010 10:57:05

Miners, banks boost FTSE on global economy hopes

Pedestrians walk through the gate at Paternoster Square, home to the London Stock Exchange, London
Relateret indhold

By Simon Falush

LONDON (Reuters) - Miners and banks pulled the top share index higher in early trade on Thursday as proposed fiscal stimulus measures in the United States helped boost the outlook for the global economy.

By 9:09 a.m., the FTSE 100 was 24.59 points or 0.4 percent, higher at 5,819.12 after falling 0.2 percent on Wednesday.

A proposal by U.S. President Barack Obama to extend tax cuts has lifted optimism among some investors that the world's largest economy will deliver decent growth in 2011 helping boost commodity prices.

This helped lift metal and crude prices and boosted heavyweight commodity stocks.

Miners Lonmin (Lonmin PLC) and Kazakhmys (Kazakhmys PLC Ord 20p (WI)) added 3.1 percent and 2.3 percent respectively while energy firms BG Group and Royal Dutch Shell (Royal Dutch Shell PLC 'A' Ord) gained 0.2 percent and 2.9 percent.

An absence of any more bad news on European debt problems also helped settle investors' nerves.

"The outlook is a bit more positive, Europe is off the front pages, there is talk of M&A activity and that is a sign that people are more confident on equities," said Giles Watts, head of equities at City Index.

Burberry (Burberry Group PLC) gained strongly and reached an all-time on Wednesday on renewed talk that it could be the subject of takeover activity.

Banks were also mostly firmer, boosted by the improving risk appetite. Barclays (Barclays PLC) gained 3.1 percent while Lloyds Banking Group (Lloyds Banking Group PLC ORD 1) put on 2.7 percent.

Insurers were also stronger, with Prudential (Prudential PLC ORD 5P) adding 2.8 percent and Legal & General (Legal & General Group PLC ORD) up 2.1 percent.

Asia focussed bank Standard Chartered was among the top FTSE 100 laggards, however, down 2.4 percent as the bank issued a trading update. Analysts highlighted cost growth exceeding income growth as a possible cause for investor concern.

The biggest faller was Smith & Nephew , down 3.2 percent, retreating after strong gains on Wednesday which were prompted by bid speculation.

BOE AWAITED

The Bank of England's Monetary Policy Committee decision is due at 7 a.m. The Bank is likely to hold interest rates at 0.5 percent, and keep the 200 billion pounds of asset purchases that has been in place since February this year.

Overall, appetite for equities seemed relatively firm with investors seeing them as attractive relative to other asset classes.

"Bonds outflows (four-week moving average) are negative for the first time since 2009, while equity inflows (3-month moving average) are their highest since 2006 and money market inflows

have turned positive again," Credit Suisse said in a note.

"This pattern of funds flow suggest that investors want to be cautious, but realise that bonds carry a risk and that, at the margin, some types of equities are safer than bonds."

But data continued to paint a rather grim picture for the domestic economy.

British house prices posted their first annual decline in a year in the three months to November, and prices fell 0.1 percent on the month, mortgage lender Halifax said.

(Additional reporting by Dominic Lau; Editing by Erica Billingham)

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Fondsbørsmeddelelser

Høreapparater/Bernstein: Siemens-køb muligt for både GN og WDH

22-10-2014 16:40:02
Det er ikke helt utænkeligt, at en af de to store danske høreapparatproducenter, William Demant Holding og GN Resound, vil kunne absorbere et opkøb af tyske Sie..

Genmab venter royalties fra Arzerra-salg på 27 mio. kr. i Q3

22-10-2014 13:11:49
Genmab regner med at modtage royalties på cirka 27 mio. kr. fra Glaxosmithklines salg af Arzerra i tredje kvartal.Det meddeler Genmab i forbindelse med, at Glax..

Nordea Danmark sværger troskab til Swipp

22-10-2014 11:07:17
Selvom storbanken Nordea nu sætter gang i en storstilet it-offensiv, der skal strømline den pannordiske banks systemer på tværs af landegrænser, så er der ingen..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
1
Bavarian/Nordea: Ebola-aftale er veltimet, værdifuld og vigtig
2
Bavarian hopper på ebola meddelse
3
Aktier/åbning: Bavarian tordner i vejret
4
Al-Qaeda blæser til kamp mod vestlige olietankere
5
Europa/aktier: U-vending sikrede plus på stor regnskabsdag

Relaterede aktiekurser

Barclays PLC 223,40 0,0% Aktiekurs uændret
Legal & General Group PL.. 224,76 -0,3% Fald i aktiekurs
Lloyds Banking Group PLC.. 75,84 -0,1% Fald i aktiekurs
Prudential PLC ORD 5P 1.367,50 0,0% Aktiekurs uændret
Lonmin PLC 181,90 0,0% Aktiekurs uændret
Burberry Group PLC 1.482,78 -0,1% Fald i aktiekurs
Royal Dutch Shell PLC 'A.. 2.183,65 -0,1% Fald i aktiekurs
Kazakhmys PLC Ord 20p (W.. 241,40 0,0% Aktiekurs uændret

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen
Sælg

Relaterede selskaber
Få adgang til information og anbefalinger af relaterede selskaber med PLUS pakken.

Du får adgang til 7 værdifulde investorværktøjer til investering.

Klik her og læs mere om PLUS pakken.
Euroinvestor i andre lande: Euroinvestor.com | Euroinvestor.se | Euroinvestor.no | Euroinvestor.fr | Forexinvestor.com| Wisselkoersen.nl | Valuta.se | Valutaveksel.no | Divisas.es | Valute.it
Copyright Euroinvestor A/S 2014  Disclaimer Privatlivspolitik
Aktieinformation leveres af Interactive Data.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
23. oktober 2014 08:40:14
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20141015.1 - EUROWEB4 - 2014-10-23 08:40:14 - 2014-10-23 08:40:14 - 1 - Website: OKAY

Når du besøger Euroinvestor.dk accepterer du, at der anvendes cookies, som vi og vores samarbejdspartnere benytter til funktionalitet, statistik og markedsføring. Læs mere om cookies på Euroinvestor.dk her

x